Surviving The Assault on Private Sector Careers in America

The Reality of Recession Proof Careers

Last quarter, the national unemployment rate was still 6.1%. Most economists consider anything under 5% as “full employment.” The highest unemployment rate in my lifetime was 10.8% in the fourth quarter of 1982 (which was coincidently, the year I got fired).

While 10.8% is pretty grim, it’s still only 5.9% more than full employment. In human terms this means that the worst 6% of companies may fail or the worst 6% of employees may be fired or laid off. This also means that even if this recession is a bad as 1982, 94% of us will most likely survive unharmed.

So what about recession proofing your careers?

I think it’s a dumb idea. Anyone who golf’s knows that the best swing is the one “with the fewest moving parts.” Similarly, the safest career move in turbulent times is the one with the fewest moving parts. Radical moves at times like this are very risky.

That said, I’m not suggesting that you do nothing, I’m simply saying that you should take action to move your career in safer direction.

Career Security Moves

Here are a few career-specific strategies for moving your career to a safer place until this economic storm blows through:

Sales – Salespeople are on the front line and thus the most vulnerable to sudden economic downturns. One of the people I interviewed in Career Secret Sauce; 9 Winning Strategies for Building a Great Career, was a career salesman named Gary McGrath. His final comment in our interview was somewhat chilling and very appropriate to today’s situation:

“September 11 was even more devastating for salespeople than it was for everyone else. Suddenly, all budgets were frozen and none of my customers could conduct a rational discussion about ever buying anything again. I had a wife and four kids to feed; it was a scary time. I will never forget the feeling that I couldn’t sell anything and it was beyond my control. Since then, I’ve worked every day like it’s September 10, 2001 and I may not be able to sell a thing tomorrow.”

So, if you’re in sales, my first piece of advice is to undertake a critical forecast analysis on yourself. Will the deals you’re forecasting still come through? If not, is there a back-up strategy that will keep them alive and/or bring in a smaller deal this quarter? If no, is there anything you can do with your favorite customers to bring in even small orders?

Your management knows that this will all pass one day and they’ll still need good salespeople when the economy returns. That said, they are likely to use this downturn as an excuse to clear out any “deadwood” that they feel isn’t producing. DO NOT BE THAT DEADWOOD. Hustle for business, help your team, and keep your boss up to date on what’s happening and what your new sales strategy is.

Finally, if you’re in sales and have a chance to move to an area with a more stable income like sales training, marketing, or support, this may be a good time to make that move. Areas like this are safer for people with sales know-how who work hard.

Other Disciplines – In May, I wrote a piece titled The Ultimate Career Secret Sauce for Economic Downturns, with strategies for people in Accounting, Manufacturing, Shipping, and Customer Service. It all holds true today, so I suggest you simply CLICK HERE to read the whole story. the-ultimate-career-secret-sauce-for-economic-downturns.

Just “Keep Your Nose Clean”

If this recession follows the numbers from 1982, 90% of the workers in your company will remain safe. Your primary strategy for making your job “recession-proof” is to make sure you’re well inside the “safe 90%.”

Now is a time to help everyone around you, volunteer to do things that are outside of your job description, steer clear of bubbling political hot beds, and don’t complain if you’re asked to work on a Saturday or take a pay cut.

Now is a bad time to change employers (unless your company is going out of business) or even transfer to another department that you don’t know much about.

Just remember, as painful as it is to live through, less than 6% of us will be directly impacted. The rest of us just need to stay focused and maintain a positive attitude.

So these are a few strategies for working types. Next post we’ll look at my top strategies for college students who aren’t sure they can afford to finish college.

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2 Responses

This seems like very sound advice. It’s all in the numbers, they say. Turning these numbers around leaves one with hope and optimism and a realization that getting rid of deadwood is actually a good thing! While no one wants to think of themselves as deadwood, this can be a wake up call to do something before the pink slip shows up on the desk!